Elon Musk’s company, X Corp, which is famous for changing many industries, is now allegedly in a legal fight with the music publishing industry. Known for its innovative ideas and business moves, X Corp has started to focus on music rights. They are also allegedly suing the National Music Publishers’ Association (NMPA), an important group representing this industry.
X Corp claims music publishers allegedly create a near monopoly on music licensing, making it hard for others to compete and innovate. According to Music Business Worldwide, the filing claims that this cooperation allegedly manipulates the market by pushing companies into “bad deals” that mainly benefit the publishers. As a result, businesses who want to use music in creative ways face high costs and strict terms that can block them from creating new products or services. Allegedly, this reduces consumer choices in how they can enjoy music and slow down growth in industries needing music for their offerings.
With the filing, X Corp wants to eliminate what they think are barriers allegedly stopping fair competition and holding back new players. By tackling these problems, X Corp hopes to open opportunities for new businesses and fresh ideas, especially in music and tech, promoting a lively environment with room for future growth.
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